Postmen in India to Use Smartphones to Provide Financial Services

Narendra Modi addressing at the launch of the India Post Payments Bank, in New Delhi on September 01, 2018

Postmen in India to Use Smartphones to Provide Financial Services

The Prime Minister, Narendra Modi, launched Saturday the India Post Payments Bank (IPPB) at Talkatora Stadium in New Delhi. The function was witnessed at over 3,000 locations, which were connected to the main event in Delhi.

Speaking on the occasion, the Prime Minister said that through the India Post Payments Bank, banking services will conveniently reach the remotest places in the country, and the people living there.

He recalled that the Union Government had earlier rolled out the Jan Dhan Yojana to establish financial inclusion. He said that today’s launch of IPPB is one more step to achieve this objective. He said IPPB branches have opened across 650 districts today.

The Prime Minister said there are over 1.5 lakh (150,000) post offices and over three lakh (300,000) postmen or “grameen dak sevaks” who are connected to the people of the country. Now they will be empowered with smartphones and digital devices to provide financial services.

Enumerating the benefits of IPPB, he said it will enable money transfer, transfer of government benefits, bill payments and other services such as investment and insurance.

He added that postmen would deliver these services at the doorstep. He said that IPPB will also facilitate digital transactions, and help deliver the benefits of schemes such as Pradhan Mantri Fasal Bima Yojana, which provide assistance to farmers.

The Prime Minister said that 3 lakh “dak sevaks” would be the key to provide financial services to every home, every farmer and every small enterprise in the villages.

He mentioned that in recent months, several steps have been taken for the welfare of “dak sevaks” and to meet their long pending demand. These have led to a substantial increase in their salary, he added.

He expressed confidence that IPPB shall reach over 1.5 lakh post offices across the country within the next few months.